360 Group Denies Defamatory Claims by XMAX Founder Yuhong, Vows Legal Action Over Allegations Involving Zhou Hongyi

COINOTAG News, December 16, reported that Zhou Hongyi, founder and chairman of 360 Group, faced malicious defamation in multiple WeChat groups. The statements were described as extremely false and damaging; the group pledged legal action to defend its reputation.

Background: Yuhong formerly led Gamewave, acquired by Qihoo 360 over a decade ago. He joined a 360 subsidiary in 2014, left in 2015 for personal reasons, and never held a core management role during that period, per 360 Group.

360 Group rejected accusations of financial fraud and said it would pursue further legal remedies to uphold its rights and credibility.

From a crypto market lens, the dispute underscores governance and reputational risk for tech firms with blockchain or digital-asset interests. COINOTAG also reported that Yuhong, founder of XMAX, claimed to have helped falsify accounts by tens of billions, with data to prove it, and threatened to disclose details publicly, a move that could influence market sentiment.